Criteria for Ranking the Best Forex Signals in 2019

So you’ve opened your account, selected your
forex agent and are prepared to step into this year’s forex market. But, what
else you need to get started?

Well, if you’ve just entered into a Forex
business then you must’ve considered using forex
signals to aid you in making important decisions. However, with
numerous forex signal providers accessible to pick from, you need to observe
all the relevant details to find a dependable signal provider for your trading
business.

In this article, we’ll share some amazing tips
to help you select the best forex signal service provider for you.

Forex Signal Service – A Brief
Introduction

A forex signal service is a subscription-based
offer whereby the provider forwards signals to theforex traders
after doing complete market research and determining appropriate trade
mechanism. These signals give choices to the subscribers to either follow or
avoid the FX pairs at a specific time and rate.

Keep in mind, no one accepts that they provide
low-quality services. Therefore, it’s pretty obvious that every company will
try to attract you with unbelievable discounts and deals. Forex specialists
recommend that you should select a service that comes with a FREE trial offer.
This way, you can evaluate the risk-return ratio and identify any glitch in the
service. Moreover, this will also help you make a knowledgeable trading decision
based on reliable and realistic information.

A
Verified Track Record is a MUST

‘Profitability’ is perhaps the one thing that is promised by almost alltop forex signal
providers. However, to assess their authenticity, you should pay
attention to their verified track records. These records make certain that all
sent information is captured by the company itself.

Signal providers generally publish their
monthly progress stats or trade history on their website that you can take as a
reference to make further decisions.

One of the surefire ways to assess the
credibility of a signal provider is to look for third-party verification. For
instance, you can use myfxbook to check if the ‘track record’ and ‘trading
privileges’ is marked green.

If the company doesn’t display the third-party
verification link on their website, you can’t be assured that the declared
details are real and authentic.

Look
for a Clean and Comprehensive Performance Page

Ahead of picking a signal service, just make
sure to check the availability of an in-depth performance page. The page should
include things like entry price, stop-limit, etc. These features helps you
decide whether or not this particular company is a right fit for you.

Time
Zone is Crucial

Even the most profitable signals won’t make a
huge difference if they’re dispatched while you’re resting. Obviously, you
won’t be able to take advantage of an opportunity and miss huge profits with a
delay of just few hours.

Thus, it’s important to double-check the time
zones before acquiring services of a forex signal provider. Availing a free
trial period can also help you know the expected timings at which the
information is dispatched.

Customer
Service

Impeccable customer services show that the
company takes its subscribers seriously. The additional support and benefits
are generally listed on the company’s website. Make sure to check the
availability of supplementary support including webinars and helpful videos.
Moreover, look for options that offer various communication channels to offer
help to their subscribers.

Delivery
Channels

There are many ways a forex signal service can
forward alerts to its subscribers. The most commonly-used channels include
Email, Mobile app, phone, SMS or a private members portal.

I. Email: Email
is one of the simplest methods by which a forex trader can receive signals from
its designated service provider. Generally, subscribers create a separate email
account for this purpose so that they can quickly access all the desired
information.

II. Mobile App: Many companies have designed their customized apps that can be used to
publish notifications straight to the app. Although, the trend is getting
immensely popular, people still tend to prefer SMS and email to check FX
alerts.

III. SMS: SMS
is believed to be one of the fastest and effective medium to dispatch forex
news and signals.

IV. Private Members Portal: Besides sending signals through SMS, Email and mobile apps, forex
signal providers also acquire a personal subscriber’s area – a place where
members can quickly get their hands on recent FX notifications. However, this
option is also less popular amongst subscribers as they still need to log in to
the portal to evaluate the signal.

All in all, acquiring services of a reliable
forex signal provider enables you to spend less time in market research. It
gives you a great opportunity to learn current market trends while critically
evaluating the risk-return ratio.